OUR SERVICES
Commercial Litigation & Appeals
Mortgage Foreclosure Defense
Loan Modification
Business Law
* CONSULTS
Cases and disputes can vary in complexity. Some can be handled in a routine 20 minute phone consult. More complex matters will require time to review and analyze documents and legal issues. If your matter is more complex, we may offer you a paid one hour consultation or hourly services, depending on the time needed to properly evaluate your situation. We always require a signed retainer agreement before we begin to provide legal services. The agreement will detail the scope of services included as well as your rights as a new client.
CONTACT US
Lanin Law P.C.
330 W 38th St., Suite 506
New York, N.Y. 10018
(212) 764-7250
*on W38th St. between 8th and 9th Avenues, walking distance from Port Authority, Times Square, and Penn Station
The “Expired Authorization” Ploy By Bad Faith Lenders In Loan Modifications
/in Foreclosure & Loan Mod Blog /by Scott LaninMy law firm in Midtown Manhattan assists clients with mortgage defaults. Many people call us for help with loan modifications. Over the past year, my firm has experienced a new problem with the lenders handling these loan mod apps. They frequently state that they are missing documents. Then they take months to review (or ignore) them. When we don’t hear anything from the lender we call them. Then they tell us that our client’s authorization (to communicate with my firm) has expired and they refuse to speak to us without a new updated authorization. When did it expire we ask? I didn’t know that these things had an expiration date like milk. At least not before the lender has actually reviewed the papers and made a decision. I view this as bad faith negotiations by the lenders. Some of them ignore homeowner’s legal counsel and then outright refuse to speak to counsel. Nice. The HAMP laws need some teeth. For now, we get them the updated authorization and call again. And again. And again. Some Judges, but not all, are taking action to prevent this kind of behavior by lenders.
Three Pro-Homeowner Decisions In Foreclosure And Loan Modification
/in Foreclosure & Loan Mod Blog /by Scott LaninSuffolk County Acting Supreme Court Justice Jeffrey Arlen Spinner has issued some very pro-homeowner rulings that anyone in foreclosure or loan modification may want to read. Here is an article summarizing the decisions.
Hamilton v. Lanning Supreme Court Decision And Disposable Income In Chapter 13 Bankruptcy – The Forward Looking Approach Is Correct
/in Foreclosure & Loan Mod Blog /by Scott LaninIn the recent decision in Hamilton v. Lanning, the United States Supreme Court decided to use a forward looking approach and upheld the appellate court’s decision that, when a bankruptcy court calculates a debtor’s projected disposable income for purposes of determining the payment plan requirements, the court may account for changes in the debtor’s income or expenses that are known or virtually certain at the time of confirmation. This may now help debtors whose income was either much higher or lower during the 6 months prior to filing a case. Before this decision, many debtors with high prefiling income would simply wait it out if they could before filing, so that their prefiling income would match their postfiling income.
The majority opinion was obviously correct. Any other decision would have left debtors whose income had just been reduced (but still had sufficient funds for a plan) to have to pay into the plan income that the debtor was no longer earning.
Why You Need An Experienced Foreclosure and Bankruptcy Attorney To Handle Your Mortgage Loan Modification – Beware of Loan Modification Companies
/in Foreclosure & Loan Mod Blog /by Scott LaninIf you are a homeowner and have been approached by a non-attorney who asked for a fee in advance of providing some type of loan mod or rescue service, that person or company is conducting an illegal business and you should exercise extreme caution. If they go further and offer guarantees or promises, something that is simply not possible in this area of law, it is a big red flag. Under New York law, only an attorney who is directly providing loan modification consulting services to a homeowner in the course of his or her regular legal practice is allowed to be paid in advance for this service.
The New York Attorney General has recently issued a cease and desist letter to over 180 loan modification companies, recognizing the dangers to homeowners who use non-attorneys to represent them in this process. See the AG notice here.
Under New York law, which is cited in the letter (complete copy and link below), rescue companies, mortgage brokers and others are not allowed to accept advance payment of fees or make false statements or promises. For homeowners who are seeking modification assistance, they should always use an attorney. Read more
Bill Calls For Credit Score Help Along With Loan Modification
/in Foreclosure & Loan Mod Blog /by Scott LaninHere is an article from the Chicago Tribune 2 days ago regarding a possible new law to help people deal with credit score issues after a loan mod.
Can A HAMP Trial Loan Mod Payment Plan Hurt Your Credit And Leave You Worse Off?
/in Foreclosure & Loan Mod Blog /by Scott LaninYour lender puts you into a HAMP trial loan mod. You are thrilled. You begin to make monthly payments. Here are some questions to consider: Read more